Vital Processing Services (Vital), a leading, full-service merchant services provider, announced the signing of a multi-year merchant processing agreement with Winston-Salem, N.C.-based BB&T Corporation.
Under terms of the agreement, BB&T will use Vital’s Authorization/Data Capture and Clearing and Settlement Services. BB&T will be converting its entire portfolio of 27,000 merchants to Vital’s back-end merchant processing system.
“Vital is pleased to offer an important bank such as BB&T complete merchant processing solutions,” said Fred Gumbel, CEO and president of Vital. “This valuable business partnership means that BB&T can now enjoy fully- integrated processing solutions, world class customer service and tremendous cost savings.”
“We selected the Vital platform over various processing platforms because Vital offers higher quality service, and its system functionality is superior to what we have today,” said Scott Qualls, senior vice president and manager of BB&T’s Revolving Credit Department.
BB&T (NYSE: BBK), a multi-bank holding company with $27.2 billion in assets, operates 485 banking offices in 256 cities in North Carolina, South Carolina and Virginia. BB&T is a full-service commercial and retail bank that also offers additional financial services, such as insurance, investments, leasing and trust. More information on BB&T is available at the bank’s Web site, .
Vital Processing Services (Vital) is a leading full-service merchant processing company. Its clients include financial institutions that provide credit card processing to their merchant customers. Headquartered in Tempe, Ariz., Vital offers financial institutions operational services that enhance business solutions without competing for their merchant business. Its services include merchant POS products, electronic authorization and data capture; clearing, settlement and exception processing; merchant accounting, billing, and reporting; operational fulfillment services (including the outsourcing of chargeback and retrieval processing); risk management; and customer service. Vital is a merchant processing joint venture of Visa(R) U.S.A. and Total System Services, Inc.(R) (NYSE: TSS) (TSYS(R)) ( ). Vital’s Internet address is .